Circle Internet Group (CRCL) raised $222 million for Arc, its new institutional Layer 1 blockchain, giving the network a fully diluted valuation of $3 billion and making Circle the first publicly listed company to conduct a token presale.
a16z crypto led the round with a $75 million commitment, according to CNBC. BlackRock, Apollo Funds, Intercontinental Exchange, SBI Group, Janus Henderson…